Advertisement
UK markets close in 6 hours 43 minutes
  • FTSE 100

    8,172.99
    -25.79 (-0.31%)
     
  • FTSE 250

    21,091.84
    -46.84 (-0.22%)
     
  • AIM

    781.44
    -1.80 (-0.23%)
     
  • GBP/EUR

    1.1879
    +0.0007 (+0.06%)
     
  • GBP/USD

    1.2926
    -0.0007 (-0.06%)
     
  • Bitcoin GBP

    51,659.68
    -336.03 (-0.65%)
     
  • CMC Crypto 200

    1,377.14
    -8.12 (-0.59%)
     
  • S&P 500

    5,564.41
    +59.41 (+1.08%)
     
  • DOW

    40,415.44
    +127.91 (+0.32%)
     
  • CRUDE OIL

    79.95
    +0.17 (+0.21%)
     
  • GOLD FUTURES

    2,401.70
    +7.00 (+0.29%)
     
  • NIKKEI 225

    39,594.39
    -4.61 (-0.01%)
     
  • HANG SENG

    17,469.36
    -166.52 (-0.94%)
     
  • DAX

    18,516.27
    +109.20 (+0.59%)
     
  • CAC 40

    7,607.84
    -14.18 (-0.19%)
     

UK's Alpha Financial Markets in favour of Bridgepoint takeover proposal

(Reuters) - British consultancy firm Alpha Financial Markets Consulting said on Wednesday its independent directors plan to recommend Bridgepoint's nearly 578 million pounds takeover proposal, if the private equity firm makes a formal offer.

Shares in Alpha FMC jumped 23% to 481 pence by 1141 GMT.

The proposed price of 505 pence per share in cash represents a premium of about 51% to Alpha's closing price on April 30, the day before the company first made Bridgepoint's interest public.

Alpha, which has about 1,000 consultants globally, had also garnered interest from private equity firm Cinven Limited regarding a possible offer earlier in May, which was withdrawn later in the month.

ADVERTISEMENT

Alpha first confirmed Bridgepoint's proposal in May. The private equity firm has until June 20 to make a firm offer or walk away.

(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Savio D'Souza and Nivedita Bhattacharjee)